Gold and Silver – Page 28 – Republic of Mining

Long-lost Ship Found in the Desert Laden with Gold – by Tasos Kokkinidis (Greek Reporter – July 12, 2023)

July 12, 2023

The discovery of a ship that disappeared five hundred years ago and was found in a desert in southwest Africa with gold coins aboard has been one of the most exciting archaeological finds of recent years. The Bom Jesus (The Good Jesus) was a Portuguese vessel that set sail from Lisbon, Portugal, on Friday, March 7, 1533. Its fate was unknown until 2008 when its remains were discovered in the desert of Namibia during diamond mining operations near the coast of the African nation.

When it sank in a fierce storm, it was on its way to India laden with treasures like gold and copper ingots. Two-thousand pure gold coins and tens of thousands of pounds of copper ingots were discovered on the Bom Jesus, almost all intact.

Woman who helped discover the Klondike – by A.J. Roan (North of 60 Mining News – June 30, 2023)

July 6, 2023

https://www.miningnewsnorth.com/

For over a century, the men of the Discovery enjoyed the reputation, renown, and riches; now, Kate Carmack will be remembered too.

Tales of the original Klondike discoverers that opened the floodgates for tens of thousands of stampeders to make their way North in search of gold often forget a First Woman of the Yukon that supported them through the challenging times of the early 20th century.

A person of quiet stoicism and dutiful integrity, this figure weathered a time where the fairer sex saw anything but fair treatment; she was Shaaw Tláa – a Tagish First Nation woman who was a member of the party that discovered gold in the Klondike in 1896 – or as history recalls her, Kate Carmack.

The world’s appetite for solar panels is squeezing silver supply (Bloomberg News – July 2, 2023)

July 4, 2023

https://www.bnnbloomberg.ca/

Changes to solar panel technology are accelerating demand for silver, a phenomenon that’s widening a supply deficit for the metal with little additional mine production on the horizon.

Silver, in paste form, provides a conductive layer on the front and the back of silicon solar cells. But the industry is now beginning to make more efficient versions of cells that use a lot more of the metal, which is set to boost already-increasing consumption.

Wagner’s real money never came from diamonds and gold – by Ellen Ioanes (Vox.com – July 2, 2023)

July 4, 2023

https://www.vox.com/

Wagner’s businesses in Africa isolate and create dependent economies, not funding for private armies.

The US Treasury Department on Tuesday sanctioned gold and diamond mining concerns connected to the Wagner group in Mali and the Central African Republic after Yevgeny Prigozhin, the mercenary group’s founder, attempted to stage a mutiny in Russia last weekend.

The gold and diamond mining enterprises, as well as a UAE-based distributor and a Russian company that the Treasury’s Office of Foreign Assets Control (OFAC) says is involved in the scheme, serve to enrich some members of Wagner and their collaborators in Russia and the African countries where they have a foothold. However, the amount the group earns from its illicit mining activities is negligible compared to its significant funding from the Russian government.

Failed insurrection in Russia shows how fragile the global social fabric is, which will support long-term gold prices – by Neils Christensen (Kitco News – June 25, 2023)

June 26, 2023

https://www.kitco.com/

(Kitco News) – The gold market is starting the week on a slightly positive note, and while it may not be catching a major safe-haven bid after a 24-hour insurrection in Russia, analysts said that gold should remain a vital portfolio diversifier in times of heightened uncertainty.

The gold market remains under the critical psychological level at $1,950 an ounce after mercenaries with the Wagner Group, led by Yevgeny Prigozhin, launched an armed rebellion and marched to within 200 kilometers of Moscow during the weekend.

How to Eat Like a 19th Century Colorado Gold-Miner (Atlas Obscura – June 3, 2022)

June 26, 2023

https://www.atlasobscura.com/

A confluence of cross-cultural foodways fed a series of Colorado’s mining booms, and can still be tasted across the state today.

In 1857, newspapers from Texas to Maine resounded with breaking news from the Mountain West: the Rocky Mountains boasted “immense quantities…[of] gold, silver, and precious stones,” read the New York Herald. There was gold and silver to be won, and prospectors with dreams of striking it rich headed west.

Dozens of ”boom-towns” sprang forth almost overnight to accommodate the Gold Rush of 1858 and the Silver Boom of 1879. These mining towns developed their own distinct culture, with rules (often broken), customs (sometimes violent), and an aesthetic still visible in much of the state’s historic architecture.

Inside the Dangerous, ‘Wild West’ World of Guyana’s Pork-Knockers – by Emiliano Ruprah (Atlas Obscura – January 27, 2022)

June 23, 2023

https://www.atlasobscura.com/

Deep in the country’s interior, the global gold and diamond trade begins with back-breaking labor, environmental destruction, and uncertain profits.

GUYANA’S PORT CITY OF Bartica sits where the Cuyuni, Essequibo and Mazaruni rivers meet. It has long served as a launching point for gold and diamond miners—known as pork-knockers—on their dangerous journey into the wilderness in search of fortune. Nicknamed after the pickled peccary, or wild hog, they often eat, the pork-knockers scatter throughout the dense jungle in small mining outfits of a dozen or so people.

Countless pieces of jewelry gleaming in shop windows around the world have their origins here, in the back-breaking labor of the pork-knockers and other unsung participants in the global gold and diamond trades. This is their story.

The Drift: Nickel and gold driving the Timmins exploration boom – by Ian Ross (Northern Ontario Business – June 19, 2023)

June 23, 2023

https://www.northernontariobusiness.com/

Exploration snapshot of the Timmins camp shows land acquisition, expansion drilling, and mine permitting

The Drift is an ongoing editorial series by Northern Ontario Business about the people, companies, technologies, and innovation that encompass the mining industry in northeastern Ontario. The arrival of summer means exploration activity around Timmins accelerates into high gear for gold and nickel junior miners and project developers.

South of the city, a pair of exploration companies continue to tie into high-grade nickel, particularly Canada Nickel. The Toronto mine developer keeps hitting high-grade nickel near the surface at its Texmont Project.

Ottawa, Yellowknives Dene sign procurement framework agreement for Giant Mine cleanup – by Emily Blake (CBC News North/Canadian Press – June 23,2023)

June 23, 2023

https://www.cbc.ca/news/canada/north/

Deal includes tougher penalties for companies that fail to meet Indigenous hiring commitments

The federal government and Yellowknives Dene First Nation have signed a procurement framework agreement for the cleanup of Giant Mine, one of Canada’s most contaminated sites. Ottawa says the agreement confirms its commitment to increase procurement opportunities for Indigenous people through the more than $4-billion Giant Mine Remediation Project, including prioritizing contracts with Indigenous-owned businesses.

The First Nation says the deal will increase its oversight of how the project awards contracts and provides for tougher penalties for companies that fail to meet Indigenous hiring commitments.

World’s No. 2 gold miner is trying to get bigger in copper – by Jacob Lorinc (Bloomberg News – June 18, 2023)

June 19, 2023

https://www.bnnbloomberg.ca/

For a company with “gold” in its name, Barrick Gold Corp. has become noticeably fixated on copper. The world’s second-largest bullion producer recently approached First Quantum Minerals Ltd. to discuss a potential takeover, Bloomberg reported last week.

And while the move was unsuccessful — Barrick’s informal overtures were rebuffed — its interest in buying a $17 billion copper miner provides the starkest evidence yet of a shifting focus at the company whose origins lie in Nevada’s gold veins.

Northern Ont. is officially home to Canada’s newest gold mine – by Dan Bertrand (CTV News Northern Ontario – June 16, 2023)

June 16, 2023

https://northernontario.ctvnews.ca/

Argonaut Gold says it achieved its first gold pour at the company’s Magino Mine in northern Ontario on June 14. Magino is Argonaut’s first Canadian operation and is located in Dubreuilville, located about 300 kilometres north of Sault Ste. Marie and just under 500 kilometres east of Thunder Bay.

“We are proud of the Argonaut team for delivering Canada’s newest gold mine. The Magino mine is key to achieving our vision to become a low-cost, mid-tier North America gold producer that … proudly demonstrates responsible mining,” said Richard Young, president and CEO of Argonaut Gold, in a news release Thursday.

Ghana dethrones South Africa to become Africa’s top gold producer (North Africa Post – June 15, 2023)

June 16, 2023

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Ghana has reclaimed its top position as Africa’s premier gold producer, surpassing South Africa, after large-scale mining companies in the West African country increased gold production from 2.2 million ounces in 2012 to 3.08 million ounces last year.

After a temporary setback in 2021 due to a sharp decline in output, Ghana has reclaimed its coveted position as the continent’s top gold producer with a 32% increase in output, driven by both small- and large-scale mining sectors.

Feds say Agnico Eagle has failed to protect caribou at Nunavut gold mine as promised (CBC News North – June 15, 2023)

June 16, 2023

https://www.cbc.ca/news/canada/north/

Company ordered to comply with its permits to operate, or face penalties

The federal government says Agnico Eagle Mines is not doing what it has promised to protect migrating caribou at the Meadowbank gold mine in Nunavut.

An order issued last month by Crown-Indigenous Relations and Northern Affairs Canada (CIRNAC) says the company has failed “on multiple occasions” to meet its obligations under its project certificates for the mine, and under the Nunavut Planning and Project Assessment Act. The order requires the company to comply with its permits to operate or face potential penalties.

Northern Manitoba First Nation says deal with mining company Alamos is golden opportunity (CBC News Manitoba – June 15, 2023)

June 15, 2023

https://www.cbc.ca/news/canada/manitoba/

Deal means mining company and Marcel Colomb First Nation will share revenues as well as other benefits

A northern Manitoba First Nation hopes to reap the benefits of a golden opportunity after signing a deal with a Canadian mining company.

Marcel Colomb First Nation officially signed what’s called an impact benefit agreement on Wednesday with Alamos Gold Inc. on the Lynn Lake gold project — a gold mining project that consists of five near-surface deposits that are in the traditional territory of Marcel Colomb, according to Alamos Gold’s website.

U.S. Urges Heightened Due Diligence In Sudan’s Gold Sector As Conflict Deepens (GJEPC.org – June 12, 2023)

June 12, 2023

https://gjepc.org/

The violent conflict between the Sudanese Armed Forces (SAF) and Rapid Support Forces (RSF) that erupted in April 2023 has amplified the risks associated with the gold trade in Sudan. In response to the escalating situation, the U.S. Departments of State, the Treasury, Commerce, Labor, and the United States Agency for International Development (USAID) have issued an update to the May 2022 Business Risk Advisory related to Sudan.

The original advisory highlighted the role of the military and armed groups in Sudan’s economy, particularly within state-owned enterprises. The recent conflict has not only perpetuated these risks but also exacerbated them. As a result, the US government is taking measures to address the situation and protect the stability of Sudan.